Counts of active drilling rigs in Permian Basin, Texas and U.S. declined in the past week, according to the weekly report of March 7 by Baker Hughes.  The U.S. count of 592 – down 1 in the past week, down 30 in the past year – ends a streak of five straight weeks of additional […]

Calgary-based WhiteWater Management said last week it agreed to purchase Orion Water Solutions, a pioneer in advanced wastewater treatment solutions.  WhiteWater’s announcement March 3 said, “The acquisition strategically positions WhiteWater and its production chemical company Catalyst Production Services for continued growth while enhancing their ability to provide sophisticated water treatment solutions across a range of […]

Findlay, Ohio-based MPLX said recently it agreed to acquire the remaining 55 percent interest in BANGL pipeline system from affiliates of Midland’s Diamondback Energy and WhiteWater for $715 million.  BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast.  It […]

Houston-based Targa Resources recently reported record production for 2024Q4 and fullyear 2024.  Targa said Feb. 20 it completed its new Greenwood II plant in Midland Basin (275 million cfd) and its new Train 10 fractionator in Mont Belvieu (120,000 b/d). Also Targa recently commenced operations of its Bull Moose plant (275 million cfd) and front-end […]

The Woodlands-based Ring Energy said last week it will acquire assets in central basin platform from Lime Rock Resources in a cash-and-stock deal valued at $100 million.  The transaction is expected to close by end of 2025Q1.  The acquisition of assets in Andrews County “represents another opportunity for (Ring) to seamlessly integrate strategic, high-quality assets […]

Midland-based Permian Resources said last week it plans to increase production in 2025 by 8 percent to 360,000 to 380,000 boed and reduce well costs to $775 per lateral foot (compared to $800 in previous three months and $950 at yearend 2023).  Co-CEO James Walter said Feb. 25 he expects no change to the capital […]

Crude oil exports by Pemex, Mexico’s state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day.  That’s its lowest in decades, according to Reuters, “as the company has admitted it is struggling with crude quality.”  The monthly […]

The count of active drilling rigs in U.S. increased for the fifth straight week, according to the weekly report of Feb. 28 from Baker Hughes.  There were 593 rigs in U.S. (up 1 in the past week, down 36 from 629 year ago).  Permian Basin reported 305 rigs (up 1 in past week, down 10 […]